CVS Makes Blockbuster Aetna Bid

CVS Health Corp. CVS -3.54% is in talks to buy Aetna Inc. AET -0.02% for more than $66 billion as the drugstore giant scrambles to fortify itself against looming competition from Inc. AMZN 0.82% amid a continuing reordering of the health-care industry.
CVS has made a proposal to buy the health insurer for more than $200 per share, people familiar with the matter said. The talks may not lead to a deal, but in a sign of their seriousness, the companies’ respective chief executives— Larry Merlo at CVS and Mark Bertolini at Aetna—have met multiple times over a period of roughly six months, one of the people said.

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The Wall Street Journal

By Dana Mattioli, Sharon Terlep and Anna Wilde Mathews